Dont miss out on this quality industrial heat insulation provider stock trading at a 52-week high today

For the latest September quarter, the company witnessed a 65 per cent YoY improvement in its net profit.

On November 23, the stock is trading at an all-time high price. The stock opened at Rs 700.5 and so far, made intraday high and low of Rs 778.35 and Rs 700.5, respectively. 

This stock belongs to the S&P 500 SmallCap index and has a market capitalisation of Rs 12,222 crore. The name of the stock is RHI Magnestia India Ltd.   

RHI Magnestia India Ltd is in the business of manufacturing and marketing special refractory products, systems, and services to the steel industry in India and international markets. The company can offer full heat management solutions to its customers.  

RHI Magnesita India has a 15 per cent market share in the global refractory market. It has a 25 per cent market share in India, 65 per cent in South America, 50 per cent in Africa, 40 per cent in North America, 40 per cent in the Middle East, 20 per cent in Europe, and 10 per cent in East Asia.  

According to FY22, approximately 70 per cent of the company's revenue, comes from the steel sector, 10 per cent from the cement industry, 7 per cent from non-ferrous metals, 7 per cent from glass, and the remaining 6 per cent from the energy, environmental, and chemical industries. 

For the recent quarter Q2FY23, on a consolidated basis, the total revenue increased 38 per cent YoY to Rs 599 crore. The company’s net profit increased by 65 per cent YoY from Rs 43 crore in Q2FY22 to Rs 71 crore in Q2FY23. 

About the shareholding pattern, about 70.19 per cent of the stake is owned by the promoters, 2.2 per cent by FIIs, 8.29 per cent by DIIs, and the rest 19.32 per cent by the non-institutional investors.  

The stock is trading at a PE multiple of 34.49x. The scrip has a 52-week high and low of Rs 778.35 and Rs 330, respectively.